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Partnership will also aim to drive premium category growth with launch of Sulwhasoo regional campaign on Shopee Premium
SINGAPORE - Media OutReach - 15 February 2021 - Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, and Amorepacific, Korea's leading beauty company, have signed a Memorandum of Understanding (MOU) to strengthen regional partnership and accelerate the growth of K-beauty in the booming online beauty category in Southeast Asia. This year, Amorepacific will not only be focusing on growing its online presence in Southeast Asia, but have also included Taiwan as a new market within the partnership to boost its reach and share in the wider region.
Mr Michael Youngsoo Kim, Head of Amorepacific APAC Regional Headquarters and Mr Chris Feng, Chief Executive Officer, Shopee, signing the MOU at Shopee's Regional Headquarters in Singapore
Since launching on Shopee Mall in 2018, Amorepacific has recorded more than 13x of growth in Gross Merchandise Value (GMV), and doubled its e-commerce business regionally, in 2020. The leading Asian beauty brand aims to take its success further on Shopee with data-driven strategies, joint marketing efforts and more co-branded collaborations. Amorepacific also aims to expand the coverage of its current portfolio of brands on Shopee to more markets, in order to meet untapped demand and provide more assortment to consumers. These brands include Sulwhasoo, Laneige, Mamonde, Ryo, Mise en scene, innisfree and Etude.
Michael Youngsoo Kim, Head of Amorepacific APAC Regional Headquarters, said, "As our key e-commerce partner in the region, we are glad that we have seen strong and successful results with Shopee, and want to take it further by collaborating on new and innovative initiatives. With Shopee's deep understanding of the local market landscape in the region, engaged users, and data expertise, we believe that Amorepacific and Shopee together, will be able to better serve the needs of consumers by bringing more of our world-class products to them. We also look forward to the first regional campaign of Sulwhasoo on Shopee Premium, which will help to expand our brand presence with the growing online luxury beauty shoppers."
Chris Feng, Chief Executive Officer at Shopee, said, "As one of the invited brand partners of Shopee's newly launched Regional Champion Brands Programme[1] , we are confident of helping Amorepacific capture more growth and opportunities regionally with priority access and support on all regional initiatives and resources. This partnership will also enable us to tap on their vast portfolio and industry expertise to strengthen Shopee's beauty and personal care offering, giving our shoppers more choices, as well as upgrading the online shopping experience. We look forward to working with Amorepacific to achieve even greater success than before, as they scale their presence and investment on e-commerce this year forward."
Exclusive regional campaign for Sulwhasoo to drive premium category growth
With the growth in demand of premium beauty brands exceeding mass beauty brands on Shopee , Amorepacific will be launching the first regional campaign for Sulwhasoo on Shopee Premium this April, to drive online sales and premium category growth on e-commerce. This follows the exemplary performance of Sulwhasoo's launch in Indonesia, Vietnam and Thailand on Shopee last year.
Sulwhasoo can curate brand content and tap on the differentiated user experience on Shopee Premium to enhance its brand storytelling, and deepen engagement with the growing number of premium and luxury consumer segments. The beauty brand will also explore launching a brand membership programme on Shopee to reward loyal shoppers.
Engage users with personalised and unique content
Amorepacific also aims to leverage Shopee's market leadership and deep data insights into consumer shopping trends and behaviour, to help pre-launch new exclusive products that serve existing brand lovers and acquire new users. In addition, Amorepacific will also explore introducing its brand ambassadors such as popular Korean celebrities and artistes, into its Shopee campaigns, strengthening its brand affinity and awareness with consumers across the region.
Korean beauty and skincare continues to attract a huge following in Asia and beyond[3]. In Shopee's annual mega campaigns from 9.9 to 12.12, Amorepacific brands such as Laneige and innisfree consistently ranked in the top five of the beauty category. This is driven by consumers' preference toward skincare products made with unique, natural ingredient formulas[4] and personalised beauty solutions, as well as the global rise of Korean pop culture, particularly throughout Southeast Asia.
[1] Regional Champion Brands Programme is an exclusive, by-invite only program open to top brand partners, aimed to better support brands in accelerating their growth on the regional and local levels. We currently have 17 brands on board this programme.
[2] Bain & Company report, Eight Themes That Are Rewriting the Future of Luxury Goods: https://www.bain.com/insights/eight-themes-that-are-rewriting-the-future-of-luxury-goods/
[3] Statista, Where K-Beauty is the preferred choice
About Amorepacific
Since 1945, Amorepacific has had a single, clear mission: to present its unique perception of beauty-- namely what it calls 'Asian Beauty' -- to the world. As Korea's leading beauty company, Amorepacific draws from its deep understanding of both nature and human to pursue harmony between inner and outer beauty. With its portfolio of over 20 cosmetics, personal care, and health care brands, Amorepacific is devoted to meeting the various lifestyles and needs of global consumers around the world: Asia, North America, Europe, Oceania and the Middle East. Amorepacific's research hubs located around the world are dedicated to sustainable R&D that combine the best of natural Asian ingredients and advanced bio-technology. With its world-class products, Amorepacific is acclaimed for the innovative ways in which it is transforming global beauty trends.
About Shopee
Shopee is the leading e-commerce platform in Southeast Asia and Taiwan. It was launched in 7 markets in 2015 to connect consumers, sellers, and businesses in the region.
Shopee offers an easy, secure, and engaging experience that is enjoyed by millions of people daily. It offers a wide product assortment, supported by integrated payments and logistics, as well as popular entertainment features tailored for each market. Shopee is also a key contributor to the region's digital economy with a firm commitment to helping brands and entrepreneurs succeed in e-commerce.
Shopee is a part of Sea Limited (NYSE:SE), a leading global consumer internet company. In addition to Shopee, Sea's other core businesses include its digital entertainment arm, Garena, and digital financial services arm, SeaMoney. Sea's mission is to better the lives of consumers and small businesses with technology.
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